IQ EQ FUND MANAGEMENT IRELAND Ltd Lowers Stock Position in Zscaler, Inc. (NASDAQ:ZS)

IQ EQ FUND MANAGEMENT IRELAND Ltd reduced its position in Zscaler, Inc. (NASDAQ:ZS) by 12.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 26,371 shares of the company’s stock after selling 3,756 shares during the quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in Zscaler were worth $4,758,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. NEOS Investment Management LLC increased its stake in Zscaler by 15.5% during the fourth quarter. NEOS Investment Management LLC now owns 9,209 shares of the company’s stock worth $1,661,000 after acquiring an additional 1,238 shares during the last quarter. Sava Infond d.o.o. purchased a new stake in shares of Zscaler during the 4th quarter worth about $61,000. Artisan Partners Limited Partnership increased its position in Zscaler by 30.9% during the 4th quarter. Artisan Partners Limited Partnership now owns 868,795 shares of the company’s stock worth $156,739,000 after purchasing an additional 204,996 shares in the last quarter. Korea Investment CORP raised its holdings in Zscaler by 144.3% in the fourth quarter. Korea Investment CORP now owns 136,160 shares of the company’s stock valued at $24,565,000 after buying an additional 80,416 shares during the period. Finally, Arlington Capital Management Inc. acquired a new position in Zscaler during the fourth quarter valued at approximately $2,107,000. Institutional investors and hedge funds own 46.45% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Guggenheim reissued a “neutral” rating on shares of Zscaler in a research note on Tuesday, December 3rd. JPMorgan Chase & Co. raised their price objective on Zscaler from $240.00 to $250.00 and gave the company an “overweight” rating in a research report on Thursday, March 6th. BMO Capital Markets upped their target price on Zscaler from $222.00 to $233.00 and gave the stock an “outperform” rating in a research report on Thursday, March 6th. Royal Bank of Canada raised their target price on Zscaler from $230.00 to $250.00 and gave the company an “outperform” rating in a report on Thursday, March 6th. Finally, Oppenheimer increased their price objective on shares of Zscaler from $230.00 to $250.00 and gave the company an “outperform” rating in a research report on Tuesday, December 3rd. Nine investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Zscaler has an average rating of “Moderate Buy” and an average price target of $232.68.

Zscaler Stock Performance

NASDAQ ZS opened at $211.55 on Thursday. The company has a 50-day simple moving average of $201.26 and a 200-day simple moving average of $192.96. Zscaler, Inc. has a one year low of $153.45 and a one year high of $217.84. The firm has a market capitalization of $32.73 billion, a PE ratio of -846.20 and a beta of 0.88.

Insider Transactions at Zscaler

In related news, CFO Remo Canessa sold 3,721 shares of the stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $199.15, for a total value of $741,037.15. Following the completion of the transaction, the chief financial officer now directly owns 213,702 shares of the company’s stock, valued at $42,558,753.30. This represents a 1.71 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Ajay Mangal sold 190,480 shares of Zscaler stock in a transaction on Monday, March 17th. The shares were sold at an average price of $200.69, for a total value of $38,227,431.20. Following the sale, the insider now directly owns 2,580,210 shares in the company, valued at $517,822,344.90. The trade was a 6.87 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 199,234 shares of company stock worth $39,970,790. 18.10% of the stock is currently owned by company insiders.

Zscaler Profile

Zscaler, Inc operates as a cloud security company worldwide. The company offers Zscaler Internet Access solution that provides users, workloads, IoT, and OT devices secure access to externally managed applications, including software-as-a-service (SaaS) applications and internet destinations; and Zscaler Private Access solution, which is designed to provide access to managed applications hosted internally in data centers, and private or public clouds.